Customs duty exemption for offshore oil exploration imports subject to certificate and capped duty rate for eligible equipment. Exempts specified goods imported for off-shore oil exploration or exploitation from customs duty in excess of a capped ad valorem rate and from additional duty under the Customs Tariff Act, conditional on the importer producing, at clearance, a certificate from the Member-Secretary of the Empowered Committee on the Indigenisation of Oil Field Equipment and Services certifying the goods are essential for such off-shore purposes; the exemption covers the listed vessels, rigs, equipment, consumables and spares and is effective only for the notification's prescribed period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Customs duty exemption for offshore oil exploration imports subject to certificate and capped duty rate for eligible equipment.
Exempts specified goods imported for off-shore oil exploration or exploitation from customs duty in excess of a capped ad valorem rate and from additional duty under the Customs Tariff Act, conditional on the importer producing, at clearance, a certificate from the Member-Secretary of the Empowered Committee on the Indigenisation of Oil Field Equipment and Services certifying the goods are essential for such off-shore purposes; the exemption covers the listed vessels, rigs, equipment, consumables and spares and is effective only for the notification's prescribed period.
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